FTC approves KT-KTF merger (South Korea)

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FTC approves KT-KTF merger (South Korea)

March 15, 2009

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South Korea's anti-trust agency, the Fair Trade Commission (FTC), has approved proposals by fixed line and broadband operator KT Corporation (KT) to merge with its mobile arm, KTF Corporation. KT claims the merger will allow it to improve and expand its product offerings as well as cut costs. Its rivals, including SK Telecom, have expressed concern that the unification of the two companies will affect competition in the country's wireless sector. However, FTC will continue to monitor the newly merged company for any sign of anti-competitive activity.